How to save on gas costs with a gallon of gas
How much would you pay if you drove a gas-powered car instead of an electric car?
That’s the question posed by a new study by the Massachusetts Institute of Technology.
The researchers calculated the amount of money a typical consumer would save if they bought a gas powered car instead.
The report estimates that buying a car with electric power would save an average household $1,842 over the course of the next five years.
That works out to roughly a 3.5% annualized growth rate.
That’s a big number for a small percentage of consumers.
But the authors of the report argue that it’s a huge investment, because electric cars are so cheap today that most people don’t even have the money to pay for gas.
The average household could save an extra $1.70 a year.
If you’re thinking about buying a gas car, you can find out more about how much it costs by checking out this interactive map from the Massachusetts Department of Energy.